Every decision in life involves some aspects of risk, but clearly some decisions need a structured approach. For example, a senior executive or government official may need to make risk judgements associated with very complex situations. Dealing with risk is part of governance and leadership, and is fundamental to the way an organization is managed at all levels. Yesterday’s risk management practices are no longer adequate to deal with today’s threats and they need to evolve. These considerations were at the heart of the revision of ISO 31000, Risk management – Guidelines, whose latest version has been published in 2018. A revised ISO 31000:2018 delivers a clearer, shorter and more concise guide that will help organizations use risk management principles to improve planning and make better decisions.

COSO’s fundamental principle reveals that good risk management and internal control are necessary for long term success of all organizations. The COSO Board released in September 2017 an update to the 2004 Enterprise Risk Management–Integrated Framework. This new revised framework is widely used by management to enhance an organization’s ability to manage uncertainty and to consider how much risk to accept as it strives to increase value. This initiative enhanced the framework’s content and relevance in an increasingly complex business environment so that organizations can attain better value from enterprise risk management.

The Institute of Finance Management (IFM) has organized a four (4) days training workshop on Risk Management focusing on the updates of the revised standards of ISO 31000 of 2018 and COSO ERM Framework of 2017. In this intensive four days event you will learn what are new things and key benefits of these revised Risk Management standards.